pelihu wrote:
As we have discussed elsewhere around this forum, it's a no-brainer to attend an ultra-elite business school. People at these schools will have access to the most desirable jobs. Those at HBS, Warton, etc. actually look at McKinsey & Goldman as backup choices in case they aren't able to land juicy positions with hedge funds or venture capital firms.
Are you for real?
A lot of what you say is reasonable, but you seem to go into some holistic fog when you perceive life at an eltra elite. If people were to think that way then 90% of the class at those schools are going to be seriously disappointed. People from Harvard and Stanford and the like don't really do back-up, I wouldn't expect.
They have the possibility that it might happen, but little else. At HBS 15% go into VC / LBO / PE. 6% of Wharton go to jobs in PE, VC isn't even mentioned. Stanford tops out at 21% into the three, which may be helped by the selective nature and smaller class size. According to your presentation of facts, a lot of people are on their back-up choice.
24% Consult from Stanford, 9% random Finance including IB.
31% Consult from Wharton, 21% Corp Fin & M&A.
21% Consult from Harvard, 26% other Finance.
Considering that all the consultants won't be even at McKinsey, and same for Finance & Goldman, I can only imagine that, on your scale, 30% of graduates from H/S/W are suicidal over their job failure relative to expectation. "Ew... I have to work for Bear Stearns - I may as well clean toilets for a living".
Beyond that, if Consultancy is a back up to everyone wanting to go into PE & VC, then HBS and Wharton really want to work on their diversity.
Harvard & Stanford may well be habitual placement MBAs for PE firms (maybe VC also) which really skews the statistics. You have a hard time getting into PE period. I am not sure if you are presenting HBS & Wharton students as deluded, or belittling the acheivement of getting into PE & VC.
It is a stretch objective from any school, but the ultra elites might give you a footstool to make it more reachable. If you can reach it as a career, it is probably because your background before the MBA is more of a stepladder to access it.